Cirrus Logic faces derivative lawsuit |
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Published
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Thu, 18 Jan 2007 07:25 |
NEW YORK (AFX) - Chip developer Cirrus Logic Inc. said in a regulatory filing Wednesday a shareholder derivative suit against some of its current and former board members and executives was filed in state district court in Travis County, Texas, on Jan. 5.The company said it was informed of the lawsuit, which concerns stock options grants, on Jan. 12.Cirrus added that its review of stock options granting practices is still under way.Shares rose 4 cents to close at $8.10 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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